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Tag Archives: Product Ranking

Big Data & Inventory Optimization: How do you Analyze your Business

Note: This is our second blog in our 2-part series on crunching Big Data. If you find this information interesting, be sure to check out part 1 on Big Data & Product Groups as well.

Many are sold on the idea that Big Data provides Retail Demand Intelligence (RDI) and that employing RDI with demand forecasting and inventory optimization will return retail to profitability. The startling truth is that 70-80% of Big Data BI projects fail; typically, we only learn about these projects when we see multi-million dollar accounting write-offs or when cell phone video of winter fur coats in a Hawaii department store shows up on YouTube.

Why was this happening? Perhaps the better question of “Why?” was rooted in the data analysis tools that were used to group products and locations together for allocation and assortment planning. How do we avoid this situation? Read More

Product Groups: Would you Allocate Winter Coats to Hawaii?

Got Groups? A major department store sent new winter coats every year to Hawaii.

Consumer Centric Retail is Product and Location

Product Groups and Product Ranking are the most utilized feature in legacy ERP systems. Think of the different ways data is grouped to use in the supply chain. Product Groups and Ranking reports are used for planning, allocation, and analysis reporting in most any retail, wholesale, or grocery line of business. Some businesses go further and use these same reports to run replenishment in Excel or other software, and other companies use product grouping and ranking for inventory optimization, price optimization, and exception management. Read More